India Needs Up to USD 215 Billion for 2030 Renewable Energy Goal

14 Jun 2024 CW Team

India will need investments ranging from USD 190 to 215 billion to achieve its ambitious target of 500 gigawatts (GW) of renewable energy capacity by 2030, according to a statement released by Moody's Ratings. The projected expenditure underscores the significant financial commitment required from the nation's infrastructure companies as they navigate the energy transition driven by robust economic growth.

The report highlights that India's rapid economic development is generating increased energy demands, necessitating a swift shift towards renewable energy sources. To meet this demand, substantial investments in infrastructure and technology will be imperative.

Despite the high costs, Moody's emphasized that supportive government policies and a stable regulatory environment will play a crucial role in maintaining credit quality throughout this transition. The assurance of regulatory stability is expected to bolster investor confidence and facilitate the necessary capital influx.

As India pursues its renewable energy goals, these factors collectively suggest a favorable outlook for the country's energy sector and its capacity to meet future energy demands sustainably.

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